Results for the year to 31 March 2023

Download the results highlights  

Download the full results  


3i Infrastructure plc (‘3i Infrastructure’ or the ‘Company’) today announces a 14.7% return for the year, delivery of the FY23 dividend target of 11.15 pence and a 6.7% increase in the target dividend for FY24 to 11.90 pence per share.

Richard Laing, Chair of 3i Infrastructure plc, said:

“3i Infrastructure continues to deliver long-term sustainable returns. I am delighted to report that we achieved another year of outperformance, with a total return of 14.7% in the year ended 31 March 2023, well ahead of our target. We have increased the dividend per share in every year of the Company’s existence.”

Scott Moseley and Bernardo Sottomayor, Managing Partners, Co-Heads of European Infrastructure, 3i Investments plc, added:

“This was another strong year for the Company, materially exceeding its target return. We have carefully selected our portfolio, identifying infrastructure companies that benefit from long-term structural growth trends in their underlying markets. 3i Infrastructure is well positioned to continue to deliver attractive shareholder returns.”


Performance highlights

Well ahead of our target return of 8-10% p.a.

Total return on opening NAV

Total return for the year


NAV per share

Delivered FY23 dividend target, fully covered

Setting target for FY24 dividend, up 6.7% year on year

Full year dividend per share for FY23

Target dividend per share for FY24




For further information, please contact:

Richard Laing, Chair, 3i Infrastructure plc

Tel: 037 1664 0445

Thomas Fodor, investor enquiries

Tel: 020 7975 3469

Kathryn van der Kroft, press enquiries

Tel: 020 7975 3021


For further information regarding the announcement of the results for 3i Infrastructure plc, please visit A recording of the analyst presentation will be made available on this website during the day.


Notes to the preliminary announcement

Note 1

The statutory accounts for the year to 31 March 2023 have not yet been delivered to the Jersey Financial Services Commission. The statutory accounts for the year to 31 March 2022 have been delivered to the Jersey Financial Services Commission. The auditor’s reports on the statutory accounts for these years are unqualified. This announcement does not constitute statutory accounts. The preliminary announcement is prepared on the same basis as set out in the statutory accounts for the year to 31 March 2022.

Note 2

Subject to shareholder approval, the proposed final dividend is expected to be paid on 10 July 2023 to holders of ordinary shares on the register on 16 June 2023. The ex-dividend date for the final dividend will be on 15 June 2023.

Note 3

This report contains Alternative Performance Measures ('APMs'), which are financial measures not defined in International Financial Reporting Standards ('IFRS'). More information relating to APMs, including why we use them and the relevant definitions, can be found in the Company's 2023 Annual report and accounts and in the Financial review section.

Note 4

The preliminary announcement has been extracted from the Annual report and accounts 2023. The Annual report and accounts 2023 will be available on the Company’s website today. Printed copies of the Annual report and accounts 2023 will be distributed to shareholders who have elected to receive printed copy communications on or soon after 22 May 2023.


Notes to editors

About 3i Infrastructure plc

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, an approved UK Investment Trust, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company's purpose is to invest responsibly in infrastructure, delivering long-term sustainable returns to shareholders and having a positive influence on our portfolio companies and their stakeholders.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and is the investment manager of 3i Infrastructure plc.

This statement has been prepared solely to provide information to shareholders. It should not be relied on by any other party or for any other purpose. It and the Company's Annual report and accounts may contain statements about the future, including certain statements about the future outlook for 3i Infrastructure plc. These are not guarantees of future performance and will not be updated. Although we believe our expectations are based on reasonable assumptions, any statements about the future outlook are subject to a number of risks and uncertainties and could change. Factors which could cause or contribute to such differences include, but are not limited to, general economic and market conditions and specific factors affecting the financial prospects or performance of individual investments within the portfolio of 3i Infrastructure plc.


This press release is not for distribution (directly or indirectly) in or to the United States, Canada, Australia or Japan and is not an offer of securities for sale in or into the United States, Canada, Australia or Japan. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an exemption from registration under the Securities Act. Any public offering to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and will contain detailed information about 3i Group plc, 3i Infrastructure plc and management, as applicable, as well as financial statements. No public offering in the United States is currently contemplated.